Source: Farokh RadioeToro files for US IPO after 2024 enforcement actionOnline trading platform eToro publicly filed its registration statement for a proposed initial public offering (IPO) on the Nasdaq Global Select Market under the ticker symbol “ETOR.” The IPO is anticipated to occur as early as Q2 2025, pending market conditions, with eToro seeking a $4-billion valuation with plans to raise $500 million by offering 10 million Class A shares. The trading platform ran into some trouble with the SEC in 2024, when the agency claimed eToro “operated an unregistered broker and unregistered clearing agency in connection with its trading platform that facilitated buying and selling certain crypto assets as securities.”As a result, eToro paid a fine and agreed to reduce its crypto offerings for US customers to Bitcoin (BTC), Bitcoin Cash (BCH) and Ether (ETH).
Coinbase acquires Deribit in bid to capture derivatives marketUS-based crypto exchange Coinbase bought crypto derivatives platform Deribit for $2.9 billion on May 8. The merger makes Coinbase the largest crypto derivatives platform by open interest, per an exchange blog post. The deal comes as major crypto exchanges like Coinbase, Kraken and Robinhood jockey to dominate the growing global crypto derivative market.
The move signals growing investor confidence in the future of retail cryptocurrency trading platforms in the US as the jurisdiction reorients its rules defining cryptocurrencies and loosens restrictions that made it more difficult for such platforms to receive banking services. OKX relaunches in the US months after $500-million settlementOKX, a major global cryptocurrency exchange, announced its reentry into the US market in April 2025.
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